Civic Intelligence

Arete Education Inc.

990 • Fiscal year 2016 • EIN 80-0789207

Jan 01, 2016 to Dec 31, 2016 • Filed on Nov 15, 2017

557 Grand ConcourseBronx, NY 10451

(646) 504-2015

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

83rd percentile

0.47x

Higher debt load relative to assets than 83% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2016

Liabilities / Revenue

65th percentile

0.11x

Higher debt load relative to revenue than 65% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2016

Net Margin

23rd percentile

-8.7%

Higher net margin than 23% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2016

Top Officer Pay

49th percentile

$0

Higher top officer pay than 49% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2016

Asset Growth

13th percentile

-13%

Faster asset growth than 13% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2015 to 2016

Revenue Growth

64th percentile

11%

Faster revenue growth than 64% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2015 to 2016

Assets

Down

$159,179

Down $24,548 (-13%) from 2015

Net Assets

Down

$83,650

Down $59,833 (-42%) from 2015

Liabilities

Up

$75,529

Up $35,285 (+88%) from 2015

Revenue

Up

$688,767

Up $69,321 (+11%) from 2015

Expenses

Up

$748,600

Up $130,991 (+21%) from 2015

Net Income

Down

-$59,833

Down $61,670 (-3357%) from 2015

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$1.5M$1.0M$500K$0Assets 2012: $87,950Liabilities 2012: $0Net Assets 2012: $87,9502012Assets 2013: $173,677Liabilities 2013: $1,200Net Assets 2013: $172,4772013Assets 2014: $157,659Liabilities 2014: $16,013Net Assets 2014: $141,6462014Assets 2015: $183,727Liabilities 2015: $40,244Net Assets 2015: $143,4832015Assets 2016: $159,179Liabilities 2016: $75,529Net Assets 2016: $83,6502016Assets 2017: $236,110Liabilities 2017: $66,128Net Assets 2017: $169,9822017Assets 2018: $689,239Liabilities 2018: $147,811Net Assets 2018: $541,4282018Assets 2019: $1,018,717Liabilities 2019: $228,894Net Assets 2019: $789,8232019Assets 2020: $993,657Liabilities 2020: $343,390Net Assets 2020: $650,2672020Assets 2021: $552,003Liabilities 2021: $141,388Net Assets 2021: $410,6152021Assets 2022: $619,163Liabilities 2022: $173,926Net Assets 2022: $445,2372022Assets 2023: $831,925Liabilities 2023: $470,546Net Assets 2023: $361,3792023Assets 2024: $1,023,366Liabilities 2024: $762,728Net Assets 2024: $260,6382024

Highlighted filing

2016

Assets$159,179
Liabilities$75,529
Net Assets$83,650

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$2.0M$1.0M$0-$1.0MRevenue 2012: $110,042Expenses 2012: $22,092Net Income 2012: $87,9502012Revenue 2013: $204,299Expenses 2013: $119,772Net Income 2013: $84,5272013Revenue 2014: $413,511Expenses 2014: $458,496Net Income 2014: -$44,9852014Revenue 2015: $619,446Expenses 2015: $617,609Net Income 2015: $1,8372015Revenue 2016: $688,767Expenses 2016: $748,600Net Income 2016: -$59,8332016Revenue 2017: $1,045,491Expenses 2017: $959,159Net Income 2017: $86,3322017Revenue 2018: $1,193,513Expenses 2018: $822,067Net Income 2018: $371,4462018Revenue 2019: $1,611,082Expenses 2019: $1,362,687Net Income 2019: $248,3952019Revenue 2020: $1,509,408Expenses 2020: $1,616,737Net Income 2020: -$107,3292020Revenue 2021: $1,681,301Expenses 2021: $1,920,953Net Income 2021: -$239,6522021Revenue 2022: $692,847Expenses 2022: $658,225Net Income 2022: $34,6222022Revenue 2023: $1,195,519Expenses 2023: $1,279,377Net Income 2023: -$83,8582023Revenue 2024: $1,747,065Expenses 2024: $1,847,806Net Income 2024: -$100,7412024

Highlighted filing

2016

Revenue$688,767
Expenses$748,600
Net Income-$59,833
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Nov 15, 2017
Return Version
2016v3.1
Gross Receipts
$688,767
Mission and Program Overview

Mission

Arete education, inc. Is dedicated to providing engaging educational programming and enrichment experiences for at risk students through school partnerships, thoughout the calendar year.

Arete education, inc. Is dedicated to providing engaging educational programming for at risk students through school partnerships.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$106,474$89,470▼ $17,004
Accounts Receivable$26,575$35,338▲ $8,763
Land, Buildings, and Equipment, Net$50,573$34,132▼ $16,441
Prepaid Expenses and Deferred Charges$105$239▲ $134
Savings and Temporary Cash Investments$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$183,727$159,179▼ $24,548
Other Assets Total$0$0→ $0
Liabilities
Accounts Payable and Accrued Expenses$25,176$64,721▲ $39,545
Other Liabilities$15,068$10,808▼ $4,260
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$40,244$75,529▲ $35,285
Net Assets / Fund Balance
Unrestricted Net Assets$121,607$73,650▼ $47,957
Temporarily Rstr Net Assets$21,876$10,000▼ $11,876
Permanently Rstr Net Assets$0$0→ $0
Total Net Assets Fund Balance$143,483$83,650▼ $59,833
Total Liabilities and Net Assets / Fund Balance$183,727$159,179▼ $24,548

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$34,132$52,822$86,954
Compensation and Service Providers

Board Members and Trustees

NameTitle
Jerry GoldmanPresident/director
STEVE O'NEILLVice President/director
Angie KamathDirector
Farhad AsgharDirector
Matt MccambridgeDirector
Orly LaxDirector
Paul ByrneDirector
Ray SanchezDirector
Ronnie AroestyDirector
Shea GregoryDirector
Vanita GaonkarDirector
Jyotika BangaSecretary/director
John GaribaldiTreasurer/director

Highest Paid Contractors

ContractorServicesLocationCompensation
None---
Revenue and Support

Revenue Composition

Contributions and Grants
$657,582
Program Service Revenue
$3,928
Investment Income
$0
Other Revenue
$27,257
All Other Contributions
$33,714
Change in Net Assets
$-59,833

Audited Revenue Reconciliation

Revenue per Audited Statements
$688,767
Total Revenue per Audited Statements
$688,767
Total Revenue per Form 990
$688,767
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$499,165
Salaries, Compensation, and Employee Benefits$249,435
Total Fundraising Expense$30,030
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$197,551$12,312$14,206$224,069
Other Expenses$58,274--$58,274
Fees for Services Accounting$4,479$23,355-$27,834
Payroll Taxes$22,364$1,394$1,608$25,366
Office Expenses$7,485$4,362$12,208$24,055
Depreciation Depletion$16,442--$16,442
Travel$2,414$1,025-$3,439
Advertising-$274$2,008$2,282
Insurance-$458-$458
Information Technology-$297-$297
Total Functional Expenses$675,093$43,477$30,030$748,600

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$748,600
Total Expenses per Audited Statements$748,600
Total Expenses per Form 990$748,600
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Stipends Payable$10,808
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Part VI, Section C. Disclosure

Arete education, inc.'s organizing documents and financial statements are provided upon request.

Filing and Contact Details

Filer

Filer Name
Arete Education Inc
EIN
80-0789207
In Care Of
% PATRICIA CHARLEMAGNE EXEC D
Phone
6465042015
Address
557 GRAND CONCOURSE, BRONX, NY 10451

Signing Officer

Name
Jerry Goldman
Title
President
Phone
2124903110
Signed
2017-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jerry Goldman
Formed
2012
Legal Domicile
Ny
Voting Board Members
14
Independent Board Members
14
Employees
23
Volunteers
70

Preparer

Firm
Fulvio & Associates Llp
Address
5 W 37th Street 4th Fl, NEW YORK, NY 10018
Preparer
Gennaro J Fulvio
Phone
2124903113
Supplemental Narrative

Additional Explanations

Review of 990

The officers and directors are actively involved with the review of the financial statements. The form 990 is reviewed and compared with the financial statements before filing.

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